New installation on M1 system says my old vm drive isn't available

I'm needing to install 18 with Windows 11 on a new Mac Studio.
My older machine (~09 era tower) had been duct-taped along, and as such I don't have the original bootcamp partitioned drive around.
So during the installation, Parallels is demanding that volume in order to download Win11 from Windows.
I have a valid Win11 license, AND found a Win11 X64 ISO (which I have DD'd to a drive, although I"m not sure that's of any help).

How do I download an installable Win11?